Low-voltage switching, protection and connection apparatus market in Finland

Earlier Report Observations

The market for low-voltage switching, protection and connection apparatus in Finland contracted from 303.2 million USD in 2018 to 247.0 million USD in 2020.

A recovery began in 2021, with market size peaking at 337.1 million USD in 2023. This expansion was supported by increased electrification in heating and process industry, notably through rising investments in electric boilers which raised electricity consumption. Furthermore, the strong growth of wind power, covering 25% of electricity generation by 2024, and the EU electricity market reform in April 2024 which promoted long-term contracts for fossil-free energy, sustained demand for related electrical apparatus. The market size then moderated to 322.8 million USD in 2024.

Production low-voltage switching, protection and connection apparatus in Finland

In value, 2017-2020, M $ US

Production of low-voltage switching, protection and connection apparatus in Finland declined for the second year in a row. In 2020, output was valued at 341.1 million US dollars, showing a moderate 8.7% decrease compared to 2019. Over the 2017-2020 period, production fell by 3.6%, with an average annual decline of 1.2%. The highest production value was recorded in 2018 at 377.4 million US dollars, which also saw the largest increase of 6.6%.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

Exports low-voltage switching, protection and connection apparatus from Finland

Exports in kind, t

Market performance showed significant fluctuations during this period. From 2018 to 2019, exports experienced dramatic swings with a 28-fold difference between the peak and trough. In 2019, exports reached their lowest point at 360 tonnes, marking a substantial 96.4% decline. The following year, in 2020, exports rebounded strongly to 9,412 tonnes, representing a remarkable 2,513.8% increase compared to 2019. The highest export volume was recorded in 2018 at 9,927 tonnes.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

Between 2017 and 2020, Finland's export destinations for low-voltage switching, protection and connection apparatus were highly diversified. The top three partners - the Netherlands (9.0%), Germany (8.7%), and the United States (8.3%) - collectively accounted for just 26.1% of total exports. The remaining 73.9% was distributed among numerous other countries, indicating a broad and varied partner landscape.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

Finland's exports of low-voltage switching, protection and connection apparatus declined for the second consecutive year. In 2020, export value reached 404.5 million US dollars, representing a moderate 4.3% decrease compared to the previous year. Looking at the broader 2017-2020 period, exports actually increased by 2.2%, with an average annual growth rate of 0.7%. The highest export value was recorded in 2018 at 426.5 million US dollars, which also saw the largest increase of 7.7%.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, Finland's export markets in value terms showed considerable diversity. The three largest partners - the United States (8.4%), Estonia (6.5%), and Russia (6.1%) - together represented only 21.0% of total export value. The substantial majority, 79.0%, went to numerous other countries, reflecting a wide geographical distribution of export destinations.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports low-voltage switching, protection and connection apparatus to Finland

Imports in kind, t

Import data reveals irregular patterns, indicating a volatile market environment. In 2019, imports bottomed out at 589 tonnes, representing a sharp 91.7% decline. The following year saw a dramatic recovery, with imports surging to 6,403 tonnes in 2020 - a staggering 986.2% increase compared to 2019. The highest import volume was recorded in 2017, creating a 12.8-fold difference between the peak in 2017 and the trough in 2019.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

Between 2017 and 2020, Finland sourced its low-voltage switching, protection and connection apparatus imports from a broad range of suppliers. The three largest sources - Germany (22.3%), China (14.0%), and Sweden (9.0%) - together accounted for 45.3% of total import volume. The remaining 54.7% came from numerous smaller suppliers, demonstrating significant diversification in Finland's import sources.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

Imports of low-voltage switching, protection and connection apparatus to Finland declined for the second year running. In 2020, import value stood at 310.3 million US dollars, reflecting a moderate 4.2% decrease compared to 2019. Over the 2017-2020 period, imports decreased by 6.6%, with an average annual decline of 2.3%. The highest import value was recorded in 2018 at 352.3 million US dollars, which saw a 6.0% increase. The largest decline occurred in 2019 with an 8.0% decrease.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

During the 2017-2020 period, Finland's import sources in value terms were highly diversified. The top three suppliers - Germany (28.3%), China (12.1%), and France (6.7%) - together represented 47.0% of total import value. The remaining 53.0% was distributed among numerous smaller partner countries, indicating a broad and varied geographical structure of imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020